Credit Market Turmoil Crimps Bond Sales in Worst Start Since '05
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Bond sales by companies worldwide slowed to an 11-year low in January as investors shunned risk amid a meltdown in capital and commodities markets.
About $333 billion of debt has been issued so far this month, the least for a January since 2005, when $299 billion of securities were sold, according to data compiled by Bloomberg. That’s despite the biggest day ever for bond sales in the U.S. on Jan. 13 when Anheuser-Busch InBev NV sold $46 billion of bonds to fund its takeover of SABMiller Plc. The deal was the second-largest dollar-denominated debt deal on record.